Japan's Nikkei rises after sharp fall, chip-related shares cap gains [Yahoo! Finance]
TOKYO ELECTRON UNSP/ADR (TOELY)
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Source: Yahoo! Finance
The Nikkei had risen 0.72% to 37,334.97 by the midday break. It climbed as much as 1% earlier in the session. On Friday, the index fell 2.66% in its worst session in more than a year and a half amid worries over an escalation in the Middle East conflict. "The Nikkei fell so much on Friday that it was natural for investors to buy back stocks today," said Shuji Hosoi, a senior strategist at Daiwa Securities. "Overall, the market was firm except for the chip-related stocks, which tracked their U.S. peers' declines at the end of last week." U.S. chip-related stocks tumbled on Friday, with the Philadelphia Semiconductor Index falling 4.12%. The index recorded its biggest weekly percentage decline in nearly two years with a plunge of 9.23%. Japanese chip-making equipment maker Tokyo Electron slumped 4.06%, shedding 121.6 points off the Nikkei, which lost 266.6 points in the morning session. Chip-testing equipment maker Advantest fell 3.85% and chipmaking device supplier Disco s
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